Wednesday, 17 August 2016

Banking Awareness Important GK Quiz for Bank PO Exams

Dear Readers, Here is the Banking Awareness Important GK Quiz for Bank PO Exams. In this quiz you study very imp. and previous asked IBPS PO and IBPS Clerk, SBI PO, SBI Clerk, Specialist Officer and all other exams questions and answers. Practice with mm quiz on daily basis for better competitive and recruitment bank exams preparation.

We hope that all Banking Awareness Quiz are very helpful for all upcoming Bank Exams 2016-2017. In our previous article you read Banking Awareness Question Bank in PDF format.

Q 1. The basic functions of the bank are?
(a) Acceptance of Deposits from the public
(b) Lending or investing the funds so collected from the customers
(c) Lending to customers
(d) (a) and (b)
(e) (a) and (c)

Q 2. Functions of Banks are governed by?
(a) Indian Contract Act
(b) FEMA
(c) Traditions in India
(d) Banking Regulation Act
(e) Indian Trust Act

Q 3. Electronic banking has opened new banking channels like?
(a) Internet banking
(b) Telephone banking
(c) Branch Banking
(d) ATM banking
(e) (a), (b) and (d)

Q 4. Illiterate Persons are allowed to open?
(a) Current account
(b) Savings account
(c) only savings account (without cheque facility) or fixed deposit account
(d) Any type of account
(e) Not allowed to open bank account

Q 5. The effect of a valid nomination is that?
(a) on death of the sole depositor /all depositors, the amount will be returned to the nominee after further legal formality.
(b) on death of the sole depositor, the amount will be returned to the nominee
(c) on death of the sole depositor / all depositors, the amount will be returned to the nominee without any further legal formality.
(d) None
(e) (a), (b) and (c)

Q 6. Fixed deposits cannot be
(a) Renewed for a further period on maturity date
(b) Transferred to third parties
(c) Pre-paid before the maturity date
(d) Only a&c
(e) Any of the above

Q 7. Minimum period of fixed deposit is_________days and maximum period for which a bank can accept a deposit presently is___________years?
(a) 10 - 10
(b) 7 -10
(c) 7-20
(d) Any period
(e) 1 - 10

Q 8. Flexi deposits means?
(a) Floating Rate of Interest deposits
(b) Fixed deposits
(c) Hybrid deposits
(d) Call Deposit
(e) None of these

Q 9. When the bank lends money to the customer, the relationship, of the customer and banker  is___.
(a) Creditor and Debtor,
(b) Debtor and Creditor
(c) Principle - Agent
(d) Either a or b
(e) None of these

Q 10. Debt refers to?
(a) Outstanding Loan Balance
(b) Present and future dues from customer of any nature say locker rent
(c) a sum of money owed by one person or entity(debtor) to an-other person or entity (creditor)
(d) a sum of money owed by one person or entity (Creditor) to another person or entity (Debtor)
(e) None of these

Q 11. Know Your Customer (KYC) guidelines expect banks to?
(a) know the educational details of the customer
(b) know the family details of the customer
(c) know the locational details of the customer
(d) know the financial details of the customer
(e) None of these

Q 12. The Smart Card?
(a) appears very smart
(b) contains an IC Chip
(c) issued to smart account holders
(d) issued to account holders having balance in lakhs
(e) None of these

Q 13. The first Indian bank to open a branch outside India, in London in 1946  is?
(a) SBI
(b) PNB
(c) BOB
(d) Canara Bank
(e) BOI

Q 14. Coins are minted at ?
(a) Mumbai
(b) Hyderabad
(c) Noida
(d) Kolkatta
(e) All of these

Q 15. Which of the following is not a function of commercial bank?
(a) Providing project finance
(b) Selling mutual funds
(c) Deciding policy rates like CRR, Repo rates/SLR etc.
(d) Settlement of payments on behalf of the customers
(e) Providing services such as locker facilities, remittances etc.

Answer key
Q.(1) d
Q.(2) d
Q.(3) e
Q.(4) c
Q.(5) c
Q.(6) b
Q.(7) b
Q.(8) c
Q.(9) b
Q.(10) c
Q.(11) d
Q.(12) b
Q.(13) e
Q.(14) e
Q.(15) c
Q.(16) c

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